Daily Current Affairs July 24

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs July 24. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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July 24| Daily Current Affairs 2023

Important days – Daily Current Affairs July 24

1. On which date will the Income Tax Department of India observe Income Tax Day or ‘AaykarDiwas’?
A) July 24
B) August 15
C) October 2
D) April 1
E) December 31
Answer: A) July 24

• The Income Tax Department of India will observe Income Tax Day or ‘AaykarDiwas’ on July 24, 2023 to commemorate the introduction of provision of income tax in the country.
• In 1860, on July 24, Sir James Wilson introduced the concept of income tax for the first time ever in India. This initiative was taken to compensate the loss during the first war of Independence (1857) in the British rule.
• In 2010, AaykarDiwas was celebrated for the first time on July 2010 to acknowledge 150 years of income tax in India.
• The Income Tax Act 1922 was designed with a proper framework of the direct tax administration in India.
• In 1924, a statutory body, the Central Board of Revenue was established to monitor functions and responsibilities of the department.
• In 1963, a classified Board for direct taxes called the Central Board of Direct Taxes (CBDT) was introduced under the Central Board of Revenue Act, 1963.

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Sports – Daily Current Affairs July 24

2. Who recently won her second W60 ITF title?
A) Serena Williams
B) Simona Halep
C) Naomi Osaka
D) Karman Kaur Thandi
E) Ashleigh Barty
Answer: D) Karman Kaur Thandi

• India’s Karman Kaur Thandi has clinched her second W60 ITF title defeats
• YulilaStarodubtseva of Ukraine to secure her second singles crown at an ITF women’s world tour USD 60,000 tournament held in Evansville, USA.
• With this win, Karman becomes the only Indian woman after Sania Mirza to win a pro title in USA.
• Karman earlier had won her maiden W60 ITF title in Saguenay last year.
• Overall, this was her fourth career title.
• Karman is currently 261st in the WTA singles rankings and is the second-ranked women’s player in the country.

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3. Which badminton players recently won the Men’s Double title in the Korea Open?
A) Lee Chong Wei and Lin Dan
B) Viktor Axelsen and Anders Antonsen
C) KentoMomota and Takeshi Kamura
D) SatwiksairajRankireddy and Chirag Shetty
E) Marcus Fernaldi Gideon and Kevin SanjayaSukamuljo
Answer: D) SatwiksairajRankireddy and Chirag Shetty

Korea Open

• Held in Jinnam Stadium in Yeosu, South Korea
• Date: July 18 to 23
• It was the fifth Super 500 tournament of the 2023 BWF World Tour

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4. Who emerged as the winner of the Hungarian Grand Prix?
A) Lewis Hamilton
B) Sebastian Vettel
C) Charles Leclerc
D) ValtteriBottas
E) Max Verstappen
Answer: E) Max Verstappen

• Held in: long Hungaroring circuit in Mogyoród

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Banking and Finance – Daily Current Affairs July 24

5. Which bank signed a Memorandum of Understanding (MoU) with Ashok Leyland?
A) State Bank of India
B) ICICI Bank
C) HDFC Bank
D) IDBI Bank
E) Axis Bank
Answer: D) IDBI Bank

• IDBI Bank signed a Memorandum of Understanding (MoU) with commercial vehicle maker Ashok Leyland for a channel financing partnership of its dealers.
• The MoU is for collaboration to provide personalized financial solutions specifically designed for dealers by the partnering entities.
• The bank’s digital channel finance tool called ‘e-Supply Chain financing’ has been purposely created to cater to the working capital needs of authorized dealers and traders affiliated with corporations.
• Our partnership will enable us to serve numerous businesses in India.
• Through the e-SCF tool, our goal is to provide seamless financial support to Ashok Leyland’s dealers, fostering growth and resilience in the entire supply chain

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Business and Economy – Daily Current Affairs July 24

6. Which social media platform recently launched a new logo, replacing the bluebird with an “X” as part of its wider rebranding?
A) Facebook
B) Instagram
C) Snapchat
D) LinkedIn
E) Twitter
Answer: E) Twitter

• Social Media platform Twitter has launched its new logo, dropping the blue bird on its website for an X as part of a wider rebranding.
• Twitter owner Elon Musk and its Chief Executive Officer Linda Yaccarino unveiled the new logo for the social media network.
• The new logo is the latest change since Mr Musk bought the social media platform for 44 billion dollars last year.
• Musk in April changed the name of the company from Twitter Inc. to X Corp.

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Acquisitions and Mergers – Daily Current Affairs July 24

7. Which group has exited the NBFC (Non-Banking Financial Company) space?
A) Tata Group
B) Reliance Industries Limited
C) Adani Group
D) Birla Group
E) Mahindra Group
Answer: C) Adani Group

• Adani Group has exited the NBFC space with Bain Capital agreeing to acquire 90 per cent of Adani Capital and Adani Housing.
• The transaction will buy out 100 per cent of the Adani family’s private investments in the company.
• Adani Group will hold a 10 per cent stake.
• Bain Capital has also committed $120 million in primary capital to facilitate the company’s ongoing growth.
• Adani Capital is a non-banking financial arm of the Gautam Adani-led Adani group. The company began its lending operations in 2017.

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Appointments – Daily Current Affairs July 24

8. Who recently took the oath as the Chief Justice of Kerala High Court?
A) Justice Ashish Jitendra Desai
B) Justice Ravi Shankar Jha
C) Justice Indu Malhotra
D) Justice Dipak Misra
E) Justice Rohinton Fali Nariman
Answer: A) Justice Ashish Jitendra Desai

• Justice Ashish Jitendra Desai took oath as the Chief Justice of the Kerala High Court. Kerala Governor Arif Mohammed Khan administered the oath of office to the new Chief Justice, at a ceremony held at Raj Bhavan.
• Chief Justice Desai is presently the 38th Chief Justice of the Kerala High Court.
• Prior to his elevation as the Chief Justice of Kerala High Court, Justice Desai was a Judge of the Gujarat High Court. He was the senior-most Judge of that High Court
• The Supreme Court Collegium had recommended his appointment as Chief Justice of the Kerala High Court on July 6, 2023, following the elevation of the previous Chief Justice SV Bhatt to the Supreme Court. The Centre notified his appointment subsequently, on July 19, 2023.

Justice Sunita Agarwal has been appointed as the Chief Justice of the Gujarat High Court

• Justice Agarwal graduated in Law from Awadh University and enrolled as an advocate on December 16, 1990.
• She was appointed as an Additional Judge of the Allahabad HC on November 21, 2011.
• She took oath as Permanent Judge on Aug 06, 2013.

Justice SubhasisTalapatra has been appointed as the Chief Justice of the Orissa High Court

• Justice Talapatra was elevated as a Judge of the Gauhati High Court on 15 November 2011 and on establishment of a separate High Court for the State of Tripura in 2013, he opted the High Court of Tripura as his parent High Court.
• He has been functioning, on transfer, in the High Court of Orissa since 10 June 2022.
• Justice Talapatra will take charge as Chief Justice of Orissa High Court in on 07.08.2023 consequent upon superannuation of the present Chief Justice of the High Court.

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Science and Technology – Daily Current Affairs July 24

9. Which space agency recently conducted a successful test of the Raman-II rocket engine developed by the Indian space startupSkyroot?
A) NASA
B) Roscosmos (Russian Federal Space Agency)
C) European Space Agency (ESA)
D) China National Space Administration (CNSA)
E) Indian Space Research Organisation (ISRO)
Answer: E) Indian Space Research Organisation (ISRO)

• The Indian Space Research Organisation has enabled a successful rocket-engine test conducted by Skyroot, a Hyderabad-based space start-up, at ISRO Propulsion Complex (IPRC) at Mahendragiri in Tamil Nadu.
• The test in the Liquid Thruster Test Facility (LTTF) in IPRC, involved the Raman-II engine, which was designed by Skyroot to generate 820 Newton (Sea Level) and 1,460 Newton (Vacuum) thrust, with a nominal chamber pressure of 8.5 bar absolute.
• The regeneratively cooled engine, manufactured through additive manufacturing techniques, utilises Mono Methyl Hydrazine and Nitrogen Tetroxide as propellants
  Skyroot intends to integrate the Raman-II engine into the fourth stage of its launch vehicle, Vikram-I.
• This facilitation underscores ISRO’s commitment to nurture private players, start-ups, and Non-Government Entities (NGEs) in developing the country’s space eco-system

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International Affairs – Daily Current Affairs July 24

10. Which country received the missile corvette INS Kirpan from India?
A) Sri Lanka
B) Bangladesh
C) Vietnam
D) Myanmar
E) Indonesia
Answer: C) Vietnam

• India “gifted” its in-service missile corvette INS Kirpan to Vietnam in reflection of growing strategic partnership between the two sides, especially in the maritime domain
  Navy Chief Admiral R Hari Kumar, currently on an official visit to Vietnam, presided over the ceremony at Cam Ranh where the frontline warship was handed over to Vietnam People’s Navy.
• It is for the first time that India gifted a fully operational corvette to any friendly foreign country the ship has been handed over to Vietnam People’s Navy (VPN) with complete “weapon complement”
• INS Kirpan, since its commissioning in 1991, has been an integral part of Indian Navy’s Eastern Fleet and has participated in many operations over the last 32 years.
• Manned by about 12 officers and 100 sailors, the ship is 90 metres long and 10.45 metres in width with maximum displacement of 1,450 tons.
• INS Kirpan, an indigenously built Khukri-class missile corvette, was handed over to Vietnam in line with Defence Minister Rajnath Singh’s announcement last month that India will gift an in-service missile corvette to the country.
• INS Kirpan departed on her final journey under the Indian tricolour from India to Vietnam on June 28 and reached Cam Ranh, Vietnam on July 8.

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11. Which two countries recently signed a contract to modernize the signalling system of the Dhaka-Tongi-Joydebpur rail line?
A) India and Nepal
B) India and Sri Lanka
C) India and Bangladesh
D) India and Bhutan
E) India and Myanmar
Answer: C) India and Bangladesh

• India and Bangladesh signed a contract for installation of computer based interlocking signalling system for Dhaka-Tongi-Joydebpur rail line at Rail Bhaban, Dhaka.
• The contract was signed in the presence of Railway Minister of Bangladesh Md. Nurul Islam Sujon and High Commissioner of India in Bangladesh PranayVerma.
• Implementation of this project will ease congestion and improve efficiency of Dhaka-Tongi-Joydebour section which is one of the busiest rail lines in Bangladesh.
• The project is being implemented under the Line of Credit extended by India to Bangladesh
• The importance of Indian-assisted projects in the railway sector in Bangladesh, with 17 projects worth approximately USD 2 billion accounting for 20% of the total commitment under Indian concessional loans being in Bangladesh’s railway sector.

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12. Which two leaders recently signed an agreement on Unified Payments Interface (UPI) acceptance in Sri Lanka?
A) Prime Minister of India and President of Maldives
B) Prime Minister of India and Sri Lanka President
C) Prime Minister of India and President of Bangladesh
D) Prime Minister of India and President of Nepal
E) Prime Minister of India and President of Bhutan
Answer: B) Prime Minister of India and Sri Lanka President

• Prime Minister Narendra Modi and Sri Lanka President RanilWickremesinghe in India signed an agreement on Unified Payments Interface (UPI) acceptance in Sri Lanka
• The agreement happened during Sri Lanka President RanilWickremesinghe’s two-day visit to India.
• India and Sri Lanka will conduct feasibility studies on petroleum line, land bridge connectivity between the countries
• India and Singapore signed a groundbreaking agreement in February 2023 to link their respective payment systems. This collaboration allows users in both countries to conduct seamless cross-border transactions.

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National Affairs – Daily Current Affairs July 24

13. What interest rate has the Centre ratified for the Employees Provident Fund for 2022-23?
A) 7.50%
B) 8.00%
C) 8.15%
D) 8.50%
E) 9.00%
Answer: C) 8.15%

• The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23.
• The Labour Ministry has conveyed the approval of the Central Government under Para 60(1) of the Employees Provident Fund Scheme 1952 to credit interest at 8.15 per cent for the year 2022-23.
• Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees’ provident fund (EPF) deposits to 8.15 per cent for 2022-23 for its over six crore subscribers.
• The order came after the finance ministry’s concurrence to the EPF rate of interest approved by EPFO trustees earlier in March this year.
• In March 2022, Employees’ Provident Fund Organisation (EPFO) had reduced the interest rate on EPF deposits for 2021-22 to a four-decade low of 8.10 per cent from 8.5 per cent in 2020-21.
• This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.

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14. Who did the Punjab government sign a Memorandum of Understanding with to start an English language training course for government college students?
A) World Health Organization
B) United Nations Educational, Scientific and Cultural Organization (UNESCO)
C) British Council Education India
D) United States Agency for International Development (USAID)
E) European Union (EU)
Answer: C) British Council Education India

• The Punjab government signed a Memorandum of Understanding with British Council Education India to start an English language training course for government college students.
• Under the MoU, the course will be launched as a pilot project in government colleges for 5,000 students from the academic session 2023-24

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15. In which country was a key provision of the Competition (amendment) Act 2023 implemented, vesting the power of appointment of Director General (Investigation) in the Competition Commission of India (CCI)?
A) United States
B) United Kingdom
C) India
D) Australia
E) Canada
Answer: C) India

• The Centre has implemented a key provision of the Competition (amendment) Act 2023 that vests power of appointment of Director General (Investigation) in the Competition Commission of India (CCI).
• So far, the power to appoint DG was vested in the Central Government.
• Besides implementing this key provision, the Centre has also now concurrently modified existing recruitment rules —Competition Commission of India (Director General) Recruitment Rules, 2009 —to change the composition of the Search-cum-Selection Committee for appointment of DG.
• Earlier, the Search-cum-Selection Committee was headed by Secretary, Ministry of Corporate Affairs (MCA).
• However, consequent upon the vesting of power in CCI, the Search-cum-Selection Committee will now be headed by Chairperson CCI and will have two Members, one each to be nominated by MCA and Central Government (expert-person of eminence)
• Under the new dispensation, the DG would be appointed by CCI out of the Panel (upto three names) recommended by the search-cum-selection committee after obtaining prior approval of the Central Government.

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16. Which company recently announced its participation in the XR Startup Program, an initiative between Meta and the MeitYStartup Hub to support extended reality (XR) technology startups in India?
A) Microsoft
B) Google
C) HCLTech
D) Apple
E) Facebook
Answer: C) HCLTech

• HCLTech has joined the XR Startup Program, an initiative between Meta and the MeitYStartup Hub to support extended reality (XR) technology startups in India.
• As a knowledge partner of this program, HCLTech will help foster an ecosystem in which Indian startups can develop innovative services, hardware and software solutions with focus on education, healthcare and agri-tech, creating significant economic, social and environmental impact.
• As the program progresses, the startups may leverage HCLTech’s global infrastructure, next-generation engineering technology and innovation labs to develop, test and validate their use cases.

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17. Which Indian state government recently tabled the Rajasthan Platform Based GIG Workers (registration and welfare) Bill, 2023, the country’s first such bill, aimed at providing social security to gig workers?
A) Maharashtra
B) Karnataka
C) Rajasthan
D) Gujarat
E) Uttar Pradesh
Answer: C) Rajasthan

• Rajasthan government tabled the Rajasthan Platform Based GIG Workers (registration and welfare) Bill, 2023 – country’s first such – which seeks to guarantee social security to gig workers.
• The bill provisions for monetary penalties if an aggregator fails to comply with the Act.
• The state government may impose a fine up to Rs 5 lakh for the first contravention and up to Rs 50 lakh for subsequent contravention.
• Under the bill, the state will constitute a ‘The Rajasthan Platform Based Gig Workers Welfare Board’ which will ensure registration of gig workers and aggregators operating in the state.
• The bill also aims to set up a welfare fee deduction mechanism that will be integrated with the aggregator app.
• The government also seeks to set up a monitoring mechanism to review compliance of provisions of the Act and to verify if the welfare fee is being deducted regularly.
• The bill says that a part of the welfare fee will be contributed by the aggregator on the basis of each transaction, or as notified by the state government.
• The bill will give gig workers a unique ID which will be applicable across platforms.
• The ID will enable such workers to access general and specific social security schemes, heard in case there is a complaint, and participate in all decisions taken for their welfare through representation in the board.

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